XML 27 R17.htm IDEA: XBRL DOCUMENT v3.22.1
Debt
3 Months Ended
Mar. 27, 2022
Debt Disclosure [Abstract]  
Debt Debt
Debt outstanding was as follows:
In millionsMarch 27, 2022December 31, 2021
4.88% Loan Notes due 2023
$25.0 $25.0 
4.94% Loan Notes due 2026
25.0 25.0 
Revolving credit facility36.9 10.8 
Unamortized debt issuance costs(1.0)(1.2)
Total debt$85.9 $59.6 
Less current portion$ $— 
Non-current debt$85.9 $59.6 
The weighted-average interest rate on the revolving credit facility was 2.13% for the First Quarter of 2022 and 2.19% for the full-year 2021.
The maturity profile of the Company's debt, excluding unamortized issuance costs and discounts, is as follows:
In millions20222023202420252026ThereafterTotal
Loan Notes due 2023— 25.0 — — — — 25.0 
Loan Notes due 2026— — — — 25.0 — 25.0 
Revolving credit facility— — — — 36.9 — 36.9 
Total debt $— $25.0 $— $— $61.9 $— $86.9 
Loan notes due and revolving credit facility
We have been in compliance with the covenants under the Note Purchase and Private Shelf Agreement throughout all of the quarterly measurement dates from and including September 30, 2014, to March 27, 2022.
The Loan Notes due 2023 and 2026, the Revolving Credit Facility and the Note Purchase and Private Shelf Agreement are governed by the laws of the State of New York.
Senior Facilities Agreement
During the First Quarter of 2022, we drew down net $26.7 million on the Revolving Credit Facility, and the balance outstanding at March 27, 2022, was $36.9 million, and at December 31, 2021, was $10.8 million, with $63.1 million undrawn at March 27, 2022, and $89.2 million at December 31, 2021.
We have been in compliance with the covenants under the Senior Facilities Agreement throughout all of the quarterly measurement dates from and including September 30, 2011, to March 27, 2022.
In October 2021, the Company completed a refinancing of its existing Revolving Credit Facility, extending its tenure to 2026.